Latest data from the Mortgage Bankers Association for the week ending 23 August 2019
- Prior -0.9%
- Purchase index 234.1 vs 243.8 prior
- Market index 576.2 vs 614.6 prior
- Refinancing index 2,545.6 vs 2,754.7 prior
- 30-year mortgage rate 3.94% vs 3.90% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. A more notable drop in mortgage activity led by a fall in refinancing after the sharp rise over the past two weeks.
Of note, the long-term mortgage rate continues to hold at lower levels and that should hopefully help to spur some rise in mortgage activity down the road.
